Băsescu warns: 'Romanians' loan interest rates are rising. Political instability also questions country rating'

Former Romanian President Traian Băsescu issued a stark warning about the nation's economic health, directly linking it to ongoing political instability. He expressed skepticism about the chances of the Veștea government being confirmed, emphasizing that the political deadlock is already impacting the economy.

"Loan interest rates for Romanians have started to rise," Băsescu stated, highlighting that the country's rating is also under scrutiny due to the lack of a stable executive. He cautioned that a new evaluation is due in two to three weeks, and it would be detrimental if Romania remains without a government by then.

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Already loan interest rates for Romanians have started to rise. Already political instability puts the country rating under question and, in two or three weeks, we will have a new evaluation. I would not want this new evaluation to find us without a Government.

Băsescu further revealed that Romania's financing costs have reached alarming levels, with interest rates exceeding those of countries classified as "junk" for investment. He described the situation as "extremely fragile" and appealed to the political class to place governmental stability and national interest above all else.

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The interest rates at which Romania is borrowing are higher than the interest rates of some countries that are in the category not recommended for investment, in the junk category.